Brightwater Advisory LLC

CIK 0002034566 · Q2 2026

13F Equity AUM

$158.3M

+4.7% QoQ

Positions

-1 QoQ

AUM Rank

#9,015

Top 72%

Skill Alpha (FF)

-3.1%/yr^ns

No Clear Edge

Rank #6,925 · Top 83%

vs S&P -4.4%/yr (unadj.)

Quarters Tracked

~2 years

Portfolio Concentration

Top 5: 33.4%Top 10: 54.4%Top 20: 80.1%

SCHF9.6%

SCHP6.7%

SCHB6.1%

SPY6.0%

FNDB5.1%

VB4.7%

VIG4.3%

IWD4.2%

TFPN4.1%

SCHE3.7%

Others (49)45.6%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services92.7%

Technology3.5%

Other3.8%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 59Median: 0.59%Avg: 1.69%

0–0.5%

26(7.9%)

0.5–1%

9(5.9%)

1–3%

11(22.1%)

3–5%

8(30.7%)

5%+

5(33.4%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 59vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New1Increased5Decreased35Exited2

New Positions

GE0.1%

+559

Increased

IWF2.4%

+23K(+295%)

SCHP6.7%

+3K(+1%)

AMZN0.4%

+43(+2%)

NVDA0.6%

+39(+1%)

HD0.3%

+1(+0%)

Decreased

SCHF9.6%

-14,686(-3%)

SCHB6.1%

-13,103(-4%)

FNDB5.1%

-9,600(-4%)

TFPN4.1%

-6,873(-3%)

SCHE3.7%

-5,421(-3%)

CGV2.4%

-3,472(-1%)

SCHG0.1%

-2,788(-28%)

XLF0.3%

-1,937(-17%)

FNDF2.7%

-1,865(-2%)

ACWX2.2%

-1,615(-3%)

Exited

FNDA

-132,878

XSVM

-15,928

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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